Good news for home-owners in Spain this year

22 Oct 2015

IT’S good news for homeowners throughout Spain this year as the real estate market continues to outdo property sales made in 2014.

According to the latest data by the General Council of Notaries, the sale of homes in Spain jumped by 19.4 per cent in June 2015, compared to the same month the previous year, reaching a total of 37,641 sales transactions.

The June 2015 data marks the fourth consecutive month of increases in home sales transactions, following those of March (+12.3 per cent), April (+1.9) and May (+8.5).

Apartment sales increased by 20.8 per cent, driven by transactions on second- hand apartments, which rose by 25.2 per cent, while the transactions on new apartments increased by 2.2 per cent. In addition, sales of individual family homes increased by 14.5 per cent in June, compared with June 2014.

The latest data, according to the notaries, shows an overall stabilisation of the Spanish real estate market, and mortgage loans for home purchases also increased in June, by 31.8 per cent, with 16,002 loans authorised.

So what should home-owners do, who want to sell their property and take advantage of the surge in property sales? The answer is make sure your home is brought up-to-date and all your paperwork is in order.

To increase your chances of selling your home, make sure you hire a surveyor and have a surveyor’s report made on your property, to present to prospective buyers.

This home report greatly increases your chances of selling your property as it gives buyers confidence that your property has been professionally checked over, has no problems and therefore no risk for the buyer.